This scrap gold calculator fetches the current price of gold over the internet to compute a scrap gold calculation (or a silver calculation). Only the gold melt value (or silver melt value) of your precious metal is used. For example, you want to know the 14K gold price content of a class ring you found with your metal detector. We will automatically apply the 58.3% gold ratio. If you have a recycler or refiner (like Kitco) who pays you 91% of the gold spot price, enter -9% for Markup / Discount.